Berkshire sells more than $3 billion in BofA shares in July

Warren Buffett's "Berkshire" sold more than $3 billion of BofA shares in July, leaving it with nearly 962 million shares worth $3.95 billion.

On July 30, 2567, Bloomberg News reported that Berkshire Hathaway Company Warren Buffett's sale of Bank of America Corp. (BofA) shares is the third time this month. It lowered the bank's huge profit forecast by more than $3 billion by a total of more than $XNUMX billion.

Berkshire has been investing in banks since 2554 and has long been a major shareholder. It sold $767 million worth of shares between July 25 and July 29, according to a July 29, 2567 filing with regulators. Total holdings decreased 6.9%.

however Berkshire holds nearly 962 million shares, according to the filing, valued at $3.95 billion at the closing price on July 30, 2567.

The sale is Buffett's biggest ever withdrawal in a remarkable show of confidence in BofA CEO Brian Moynihan, the 93-year-old legendary investor. This year they are selling their stocks. The stock price is up 22% this year.

In the beginning, Buffett spent $5 billion buying shares of BofA, a highly valued company. The company faced increased legal obligations after the 2008 financial crisis, and shareholders began to worry about the impact on their capital.

Reference: bloomberg.com

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